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Daily Technical View on Nifty

* Nifty logged its best session in over three years on June 03.

* At close, Nifty was up 3.25% or 733.2 at 23263.9.

* Cash market volumes on the NSE were at Rs.1.72 lakh cr.

* Smallcap index rose less than the Nifty even as the advance decline ratio rose to 1.96:1.

* Nifty rose with a big upgap on June 03 and formed a hammer like pattern.

* It made a new all time high with large volumes based on the event and economic data.

* It could now rose towards 23490 in the near term while 23039 could offer support.

* Positional Resistance for Nifty is seen at 23900

* Positional support for Nifty has shifted up at 23100

* Nifty has closed above the upward sloping channel on the daily chart, which indicates bullish continuation.

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